Construction technology financial company Briq has announced it has acquired billing software Swipez.
Swipez is an India-based fintech company that automates billing and revenue collection.
Briq says the acquisition will allow it to further automate financial workflows in construction, from planning to payment, and now to being paid.
“An ongoing challenge is the lack of certainty around cash flow in the construction industry, and we attribute that to a broken payment process,” said Bassem Hamdy, cofounder and CEO, Briq. “Bringing automation to the billings and accounts receivable functions will drastically improve the ability for construction companies to accurately project cash flow.”
Briq’s platform supports the ability of construction companies to automate critical financial workflows in the planning and forecasting processes, such as corporate planning, labor and materials forecasting, projects forecasting, and revenue forecasting. The Briq platform also offers the ability for construction companies to automate their spend management through AP allocation, instant credit card reconciliation and payments.
“Swipez was founded to provide businesses with an efficient way of managing their clients’ billings and a convenient and timely revenue collection process through automation,” said Shuhaid Lambe, cofounder, Swipez.
